Sedicii
Sedicii Protecting Identities
Authenticating users without the need to transmit or share private information
The exponential growth of the digital economy has created many challenges for organisations and merchants when it comes to accurately identifying their customers. Identity theft has created many challenges in accurately verifying a user’s identity – is it you or is it someone pretending to be you. The necessity for true and accurate identity information is critical to achieving trust in the digital marketplace in order to drive confidence and growth. Today, the verification of user information is slow, manual and limited by local and regional data privacy legislation. Its inefficiencies are costing both business and customers multiple billons annually through fraud, theft and non-conversion of sales, with some initial findings estimating a 40% efficiency gain through the earlier verification of legitimate customers and identifying illegitimate sales / claims within the process
What if a user’s identity attributes could be validated in real-time against the same attribute held by a trusted third party, in a secure way such that full data integrity is maintained? Sedicii can enable providers of known, trusted identity attributes to provide attestations of trust in an identity attribute without the need to expose or exchange any of the underlying identity attribute information. Sedicii is a new and innovative method of authenticating users without the need for the user to transmit or share private information or for the business owner to store a copy of that information. The service uses complex algorithms based on the Zero Knowledge Proof protocol which is the means to prove that someone knows something without the need for that person to share what it is they know. The key feature of the service is that the User's Password (or any other private information, such as Credit Card, Date of Birth, etc) is never stored on any server anywhere, nor is it transmitted from the client to the server